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Gold/Mining/Energy : TransAtlantic Petroleum Corp (TNP.U - was Profco) -- Ignore unavailable to you. Want to Upgrade?

To: bob bundy who wrote (136)	12/2/1997 3:28:00 PM
From: Bill Shugarue	Read Replies (2) \| Respond to of 270

Bob: The share price of Profco is currently trading well below the range prior to the start of drilling in Nigeria several years ago. They now have 85-90 million proven/probable/possible reserves in Nigeria. The company plans to start production in Nigeria during 1998. When they produce the first 1 million barrels of oil, Canadian Oxy will be paying them $10-million $US. I feel that Profco is oversold. If the EUG well is successful, Profco with trade much much higher. Based on the current share price of EUG, it seems that they found nothing exciting in the top zone. The well is expected to reach total depth late December.